Andrew v. Vanderbilt
New York Supreme Court
Appeal from a judgment of the Special Term sitting in equity. The plaintiff brought this action in March, 1875, and sought therein to have the defendants adjudged to be liable, as stock-liolders in a foreign corporation, known as the New Jersey Steam Navigation Company, for an indebtedness of that corporation to him, on the ground that the corporation divided all its property and capital among the defendants and other stockholders, closed its operations and went out of…
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Appeal from a judgment of the Special Term sitting in equity. The plaintiff brought this action in March, 1875, and sought therein to have the defendants adjudged to be liable, as stock-liolders in a foreign corporation, known as the New Jersey Steam Navigation Company, for an indebtedness of that corporation to him, on the ground that the corporation divided all its property and capital among the defendants and other stockholders, closed its operations and went out of existence by the expiration of its charter, leaving the plaintiff’s debt unpaid. The charter ■expired between three and four…
1Opinion of the Court
Davis, P. J.:
The ground on which this case was disposed of at the Special Term is that the plaintiff had not exhausted his remedy at law before commencing his suit in equity, and under the established ■authorities of this State could not pursue persons to whom his debtor had transferred its property in fraud of his rights. This ground is disclosed, and its application to the case fully shown, by the opinion of Mr. Justice VaN Bísunt, before whom the issues were tried. We are of opinion that the decision of that court was correct, and we adopt the opinion pronounced by Mr. Justice VaN Brunt as…
2Cases cited1 opinion
- Herring v. New York, Lake Erie & Western RailroadNew York Supreme Court · 1882